12:53pm Monday 15th March 2010
Watford Leisure PLC have confirmed a six-month pre-tax loss of £172,000 in 2009.
The unaudited financial report, for the six months ending in December last year, shows the loss falling significantly from £2.279m in the equivalent period during 2008. This reduction can be attributed to a fall in costs and players sold.
Watford made a profit of £4.484m on the sale of players with the departures of Tamas Priskin, Mike Williamson, Tommy Smith, Theo Robinson and Jobi McAnuff totaling approximately £4.2m. Watford's operating loss before interest, player trading and amortisation was £3.876m.
Revenue also fell from £10.990m in 2008 to £5.163m in the second half of 2009 partly due to the end of the parachute payments from the Premier League.
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